Our lender has suggested a law firm on their panel based in Castle Vale but I would rather instruct a conveyancing lawyer in Castle Vale or nearer to where I live. Can you help?

It is by no means the case that all Castle Vale conveyancing practices are on all lender’s conveyancing panel. Do make the most of the above find an approved solicitor tool to locate a Castle Vale conveyancing firm on the on the lender panel.

A friend advised me that in buying a property in Castle Vale there may be a number of restrictions preventing external changes to the property. Is this right?

We are aware of anumerous of properties in Castle Vale which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Castle Vale should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

When it comes to mortgage companies such as Yorkshire BS, do Castle Vale solicitors face an annual charge to be on the list of approved solicitors?

We are not aware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.

My husband and I have organised the release of further monies on our home loan from Kent Reliance as we intend to carry out alterations to our house in Castle Vale. Do we need to choose a nearby Castle Vale solicitor on the Kent Reliance conveyancing panel to deal with the legals?

Kent Reliance would not normally instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance panel.

I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when buying a house in Castle Vale? or Apparently there is historic law that could mean that homeowners living in a parish church boundary will be compelled to pay for repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Castle Vale?

Unless a prior acquisition of the house completed after 12 October 2013 you could take it that lawyers handling conveyancing in Castle Vale to continue to propose a a chancel search and or insurance against a claim.

Over the last few months I have been searching for a ground for flat up to £195,000 and found one close by in Castle Vale I like with amenity areas and transport links nearby, the downside is that it's only got 61 remaining years left on the lease. I can't really find anything else in Castle Vale for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.

I am attracted to a couple of maisonettes in Castle Vale both have approximately 50 years unexpired on the leases. should I be concerned?

There is no doubt about it. A leasehold flat in Castle Vale is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Castle Vale conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Castle Vale Leasehold Conveyancing - Sample of Queries Prior to Purchasing

Who manages the building? Is there a share of the freehold? Many Castle Vale leasehold flats will have a service bill for maintenance of the block invoiced on behalf of the management company. Where you buy the property you will have to meet this liability, usually periodically during the year. This may differ from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all likelihood there will be a ground rent for you to pay annual, ordinarily this is not a significant amount, say approximately £50-£100 but you should to enquire as occasionally it can be surprisingly expensive.